The Labor Party has announced it will move the proposed new sports stadium from Burswood to Kitchener Park in Subiaco to help fund its Metronet rail promise, if it wins the state election.
The Labor leader, Mark McGowan says moving the stadium will save $300 million.
He says a further $500 million will be raised from scrapping the State's contribution to the Oakajee Port and Rail project, the new WA museum, stage eight of Roe Highway construction and the Government's MAX rail plan.
Mr McGowan concedes there may be some resistance to the announcement but Labor's plans represent better value for money.
"Whenever you make tough decisions, whenever you make controversial decisions, you do get some push back," he said.
"But I'd ask West Australians to understand the simple point; you can get a world class stadium at a more affordable price and the savings can be directed into Metronet."
The Premier has slammed Labor's announcement as panicked and irresponsible.
Colin Barnett says West Australians are tired of the stadium debate and want it to be built at Burswood.
He says Labor's plan would require the resumption of private and public housing, meaning the stadium cannot be built by 2018.
"This is sheer panic by Mark McGowan and the Labor party, they have lost the plot," he said.
Mr Barnett maintains the Opposition's Metronet costings are flawed and has accused Mr McGowan of abandoning projects such as Oakajee to try to convince the public that the rail plan is affordable.
Mr Barnett says the Treasurer will release the Public Transport Authority's advice on Metronet to try to settle the costings row once and for all.
The Treasurer Troy Buswell agrees with the Premier that Labor's plan is flawed.
"I doubt that you will ever deliver a cent of saving and what this means for football fans is you will not see a ball bounced in the new stadium until at least 2020. It is just not possible," he said.
The former head of the Perth Stadium Taskforce John Langoulant says a 2007 report found Kitchener Park to be a better option than Burswood.
However, he says regardless of where the stadium is built, it will be the same.
"I think the community of Western Australia are entitled to think when is this thing ever going to get done," he said.
"I think the stadium will be identical if it is built at Burswood or at Kitchener Park."